International - Financial Times - Credit Squeeze

Deal worth $22.8bn involves sale of bulk of those owned by Hong Kong-based conglomerate CK Hutchison

Sanctions have accelerated the rise of Nvidia’s rivals as they seize a shift in AI use

Investors fret that aggressively protectionist trade policy will hurt economy

Agriculture industry warns that customers are looking elsewhere for key commodities

President’s protectionist moves spark concerns about retaliation and damage from escalating trade war

Manufacturing, retail and food sectors highlight coming shocks after duties on Canada, Mexico and China imposed

America is trying to undo the very system of open trade that it created

Chancellor says growth and inflation will be hit by fallout from global friction

Canada also responds as president rules out last-minute negotiations over levies

Supplier to key brands estimates levies could increase annual costs between €200mn and €450mn before it takes defensive measures

The US could dismantle its own exorbitant privilege by pushing the big bond market beasts into the arms of others

European wholesale prices have doubled in the past year, complicating the inflation outlook

Big-box US retailer says it expects ‘meaningful year-over-year profit pressure’ in first quarter

Also in today’s newsletter, US suspends Ukraine military aid and global government borrowing set to hit record

Traders had been expecting cartel to postpone plan to boost output

And strong earnings

‘Blueberries for Sal’? More like ‘no berries on sale’

Fees charged to transform ore have fallen to all-time lows as Glencore halts operations at Philippines plant

S&P expects higher bond issuance to push stock of long-term debt to $76.9tn

Punitive import duties will neither reduce the US trade deficit nor boost employment in manufacturing